UPDATE 1-European stocks slip on weak China data, regulation worries

European shares slipped on Wednesday as worries about a slowing Chinese economy, declines in luxury and travel stocks and soaring UK inflation kept the main indexes under pressure. Asian stocks took a hit after data showed China’s factory and retail sectors faltered in August with output and sales growth hitting one-year lows following fresh coronavirus outbreaks and supply disruptions. Retail and travel & leisure stocks were the top decliners in Europe, down almost 1%, on concerns over the fresh COVID-19 outbreak in China’s Fujian province and signs of tighter regulations in Macau, the world’s largest gambling hub.